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Job-hunting website Monster gets bought for $429 million

The 17-year-old Internet job site, which debuted in 1999 and went public at the height of the Internet bubble in 2000, has been bought by Amsterdam-based human resources and recruitment specialist Randstad Holdings, the company announced in a press release. The $429 million all-cash deal is a high premium considering the market cap of Monster was only $262 million when the markets closed on Monday. In its heyday, Monster was worth as much as $8 billion. Randstad says it bought Monster, which will continue operating as an independent entity under the “Monster” brand name, to “build the world’s most comprehensive portfolio of HR services.”

[Image: Monster]MG